Hedge fund names were crushed today. John Paulson's top 3 equity holding were down 4% on average today. It seems we are back in a "risk off" world. Last Summer some amazing bargains were created by the "risk off" movement and that might be the case again this year. I have been nibbling on individual names that have become cheap.
The market as a whole is still not at an extreme although the rubber band is getting stretched very far on the downside in the short term and we really should see some sort of a bounce soon. Have a good night.